Author: Vikas Kumar
12 January 2023
TheEthylene Market is expected to grow at a steady rate of around 6% owing to the increasing usage in the packaging industry coupled with the growing adoption of LDPE in the construction sector. Low-density Polyethylene (LDPE) is a soft, flexible, lightweight plastic material. LDPE is used because of its low-temperature flexibility, toughness, and corrosion resistance properties. In addition, they are non-toxic and non-contaminating, and resistant to impact, dampness, chemicals, rip, and stress fracture. In recent years, the demand for LDPE has risen dramatically due to its application in many industries such as the manufacture of packaging, garbage bins, floor tiles, mailing envelopes, and dropper bottles. Moreover, the use of low-density polyethylene in the market is growing due to the electrical insulating qualities that have resulted in its growing utilization in a variety of end-use sectors across the world.
The major trend being witnessed in the global ethylene market is the increasing investments aimed at boosting the production capacity for the gas. Owing to the large-scale application of ethane gas in various industries, many companies engaged in its production are working toward expanding their production capacities. For instance, in August 2018, ExxonMobil and Saudi Basic Industries Corporation, under a joint venture, announced their decision to construct the world’s largest ethylene production plant, estimated to be developed at a cost of USD 1.4 billion.
Furthermore, Ethylene is developed into four different compounds, which in turn are developed into several household and other products such a Polyethylene (Plastics) which are used to make food packaging, bottles, bags, and other plastics-based goods.
For a detailed analysis of the Global Ethylene Market browse through– https://univdatos.com/report/ethylene-market/
Based on application, the ethylene market has been classified into Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride, and Others. The Polyethylene category can be further bifurcated into HDPE and LDPE with LDPE expected to witness higher adoption during the forecast period. This is mainly due to the increasing use of films & sheets in the packaging industry. As LDPE is used in the production of food and non-food packaging. Furthermore, films & sheets have low toughness, stiffness, and strength, and high ductility. This plastic has a high density, sturdy construction, and long life. Hence, they are also used in the manufacturing of tubes, vessels, bubblers, dosing bottles, and molded laboratory equipment due to their property of being opaque. Hence, all these factors are contributing to the growth of the market.
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For a better understanding of the market adoption of the ethylene industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for ethylene and its byproducts in various industries such as food and beverage, electrical and electronics, packaging, and construction. With rapid urbanization and industrialization, the demand for ethylene-based packaging materials is growing exponentially in emerging economies. Besides, the growing demand for automobiles and electronic devices in APAC countries, such as China and India, is encouraging the growth of the ethylene market because ethene is used a raw material in automobiles and electronic devices. In the coming years, emerging countries are expected to witness rise in their middle-class population, which would further boost the demand for electronic items and automobiles in these countries. Thus, the increased demand for the gas from end-use industries will open new avenues for the growth of the players operating in the market.
Some of the major players operating in the market include BASF SE, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Ineos Group Ltd., LyondellBasell Industries N.V, Royal Dutch Shell plc, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation (Sinopec), The Dow Chemical Company, and Lonza Group.
Global Ethylene Market Segmentation
Market Insight, by Application
Market Insight, by Region
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